Sale of Polkomtel stake postponed yet again

PSE president Stanisław Dobrzański yesterday declared that the transaction will definitely not be completed this year. He stated that, "We do not plan to sell our shares, we do not have to hurry." He added that KGHM also does not need money now and prefers to keep its shares, as they constitute financial security for the company. PKN Orlen is the only investor of the three which wants to sell its stake as soon as possible as it need funds to complete its acquisition of Unipetrol. Orlen has broken the agreement with the other Polish Polkomtel shareholders on cooperation during the sale of the shares several weeks ago, but it is still unclear whether it will decide to sell the shares on its own. Polkomtel's foreign shareholders, namely Danish Teledanmark and British Vodafone, each of whom owns a 19.61% share of the company, have repeatedly declared they are interested in increasing their stake. (Puls Biznesu, p. 6; Parkiet, p. 4) E.B.